23.9% Electric Rate Increase Request by AEP Appalachian Power
- 5/1/08, ROANOKE, Va. (AP) - AEP Appalachian Power requested
permission from the Virginia State Corporation Commission to raise
its electric rates 23.9% retroactive to June 29, 2008. APCO cites
cost increases for environmental compliance, transmission,
distribution and system reliability. Not mentioned in the application
are fuel escalation cost which are in addition to the 23.9% increase
for normal operation.
A residential customer using a minimal 1,000 kilowatt hours of
electricity per month would increase from $71.48 to $88.01 per month
for normal operating cost plus fuel escalation rate hikes and
retroactive charges. Some Abingdon Virginia residents realized a 400%
monthly electric rate increase from a recent request by AEP APCO.
Dana Waldo, APCo's president and chief operating officer, said the
rate hike two years ago is insufficient for the utility
The filings come just one day after the SCC denied APCo's request to
reconsider its earlier rejection of rate increases in Virginia to
recover cost of a coal-fired plant in West Virginia. APCo filed to
recover from Virginia as much as $1 billion of $2.23 billion cost of
a West Virginia Power Plant.